South Korea's LG Electronics said on Wednesday it would produce at least 70 million mobile phones this year and aim for an 11 percent global market share in 2005. It also said that it would raise prices on 17-inch LCD monitors by 5 percent, reversing a long period of sharp price declines. "Price declines have reached their lowest point for 17-inch displays. We will raise prices by 5 percent," said LG's sales director for Information Systems Products Luc Grare, at the CeBIT electronics fair here.
His counterpart at Mobile Communications, Tor Nordli-Mathisen, showed a slide in which LG's global market share target for 2005 was 11 percent, up from just over 7 percent in the fourth quarter of 2004.
"We will produce at least 70 million handsets this year," he said, compared with 44 million in all of 2004.
The world market for mobile phones totalled around 680 million units in 2004, and is expected to grow to at least 730 million units this year, according to market research companies Gartner and Strategy Analytics.
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